Would you do this? (0% APR credit card related)

[v]

We have a $10,000 expense coming up in November.  It has to be paid by credit card.  We have the cash set aside already to cover the bill when it comes.

My husband is planning on signing up for a credit card soon that offers 0% APR for 15 months.  Would you put it on that credit card, invest the $10,000, and then pay the credit card off slowly (let's say $1000 a month for 10 months)?  I'm a baby when it comes to carrying a balance, but with how the market is going currently (knock on wood), it seems like we could maybe gain a good advantage over those 10 months?

Good idea, bad idea?

[Poppy]

I vote not worth it.

[v]

Sept 2, 2014 12:46:07 GMT -5 farmvillelover said:

Is the 10k in the market right now?

I personally wouldn't bother and just pay it off the first month, if the market stays about the same as now

I admit I'm a little leery about what a high we are at and am sitting on cash right now debating what to do

We're sitting on cash too, debating what to do.  Whether that $10,000 is currently in the market I guess depends on which pocket we take it out of -- we have much more cash on hand right now than I'd like to have and I'm looking to put some of that cash elsewhere.  So in a way, the question is do we include that money in the amount we want to invest (conservatively) soon, or should we keep it aside and pay right away when the bill comes due.

[liveintheville]

I'd do it. Leverage baby!

[raangoli]

I wouldn't for just under a year. It doesn't seem worth it to me for the small gain I might get.

[Mushe]

MH did this once when he was single, but it seems like too much work to me.

[aurora]

I personally wouldn't bother because I hate having to worry about making payments (even on autopay; I've spent way too much time on hold with companies whose autopay systems get messed up), but it makes financial sense.

[jewel]

Sept 2, 2014 12:52:19 GMT -5 sxia said:

I'd do it for mileage points or something, but probably not hang onto it.

The 0% is probably the best idea, in theory, but I hate carrying a balance (even at 0%).

I'd definitely put the $10k on a new credit card, though. If not the 0%, then I'd find a card that has the best initial offer and take advantage of that.

[lys]

I would not recommend it.
Use the CC and then immediately pay it off in full.
Depending on the % of the allowable limit on the CC and also the total allowable credit limit available to you, putting it on the credit card and paying off slowly could impact your credit score negatively.

[cheezer]

Too much trouble for me

[LoveTrains]

I would do it. But I'm also paying off $3,000 of car repairs at 0% on a cc right now because I didn't want to pull money from the market.

It seems like you could invest that $10k now and just cash flow the $1/k month payments. I would personally do that. It's so easy.

[v]

Sept 2, 2014 14:58:07 GMT -5 jewel said:

Sept 2, 2014 12:52:19 GMT -5 sxia said:

I'd do it for mileage points or something, but probably not hang onto it.

The 0% is probably the best idea, in theory, but I hate carrying a balance (even at 0%).

I'd definitely put the $10k on a new credit card, though. If not the 0%, then I'd find a card that has the best initial offer and take advantage of that.

That's a good point.  Maybe it is time for my husband to get his own Barclay Arrival Plus (unless I can find a better sign up offer elsewhere).

[jewel]

Sept 3, 2014 7:03:38 GMT -5 v said:

Sept 2, 2014 14:58:07 GMT -5 jewel said:

That's a good point.  Maybe it is time for my husband to get his own Barclay Arrival Plus (unless I can find a better sign up offer elsewhere).

If you have any travel planned (or want to plan any travel), I'd check out the airlines cards as well. We did a similar deal through Alaska Air once, and got started with enough points for free tickets. Depending on where you want to go, and what redemption fares are available, that might be worth more than the $400 from Barclay.